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SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 8-K
Current Report Pursuant
to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of report (Date of earliest event reported) August 23, 1998
Southeastern Income Properties Limited Partnership
(Exact Name of Registrant as Specified in Its Charter)
Virginia
(State or Other Jurisdiction of Incorporation)
0-16848 54-1350850
(Commission File Number) (I.R.S. Employer Identification No.)
5 Cambridge Center, Cambridge, Massachusetts 02142
(Address of Principal Executive Offices) (Zip Code)
(617) 234-3000
(Registrant's Telephone Number, Including Area Code)
N/A
(Former Name or Former Address, if Changed Since Last Report)
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Item 2. Acquisition or Disposition of Assets
The Registrant sold its Pelham Ridge Apartments property located in
Greensboro, North Carolina on November 23, 1998 and its Seasons Chase Apartments
property located in Greensboro, North Carolina on November 25, 1998, in each
case to an unaffiliated third party. Net proceeds to the Registrant from these
sales, after satisfaction of closing costs, were approximately $8,100,000. It is
expected that these sales will generate a gain of approximately $3,384,978 for
financial reporting purposes and $1,756,121 for tax purposes. In addition, it is
expected that all or a portion of the net proceeds will be distributed to the
Registrant's partners during the fourth quarter of 1998.
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits
(b) Pro Forma Financial Information:
The required pro forma financial information will be provided in
Registrant's Annual Report on Form 10-KSB for the year ended December 31, 1998.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized this 1st day of December, 1998.
SOUTHEASTERN INCOME PROPERTIES
LIMITED PARTNERSHIP
By: Winthrop Southeast Limited
Partnership, Its General Partner
By: Eight Winthrop Properties,
Inc., Its General Partner
By: /s/ Michael Ashner
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Michael Ashner
Chief Executive Officer
and President
